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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Bybit vs Coinbase in comparison
Overview
- Clear trading view
- Large selection of trading tools
- Low fees
- Might be complex for beginners
- Global platform still under assessment by the Seychelles FSA
- Open in every US state, including New York under an NYDFS license
- Money transmitter licenses in 47 US jurisdictions, plus authorizations in Luxembourg, the UK and Canada
- Simple app for buying, plus Coinbase Advanced with TradingView charts and advanced order types
- More than 400 crypto assets with live markets, plus commission-free US stock trading 24/5
- Two-factor authentication switched on by default, with security key support
- Parent company listed on Nasdaq, with quarterly financial reports
- Higher entry-level fees than Kraken Pro: 0.50% maker and 0.90% taker on Coinbase Advanced in the US, against 0.40% and 0.80%
- Simple buys include a spread, and simple limit orders add a 1% execution fee
- Bitcoin and Ether futures for US customers go up to 10x leverage, so traders who want more look elsewhere
- No proof-of-reserves report for exchange balances that we could find
Features Comparison
- Cryptocurrencies
- Cryptocurrencies
0.1
%
0.10%
0.10%
Varies
0.9
%
0.90%
0.50%
Varies
393
+
$
1
407
+
$
2
Exchange Rating
Functions
- Spot, derivatives, bot trading, and copy trading8
- Bybit Earn
- Launchpad
- Spot, futures trading options
- Coinbase Card
- Coinbase Wallet
Company Details
Our Review
Bybit is a top platform for advanced traders, offering extensive derivatives and leveraged trading options with competitive fees. It excels in security and user experience but may be complex for beginners due to its advanced features. Geographical restrictions, particularly in the U.S., limit access, and withdrawal fees can vary. Overall, Bybit is well-suited for experienced traders looking for sophisticated tools and high-risk trading opportunities, but beginners should approach with caution.
Coinbase is a US-listed exchange accessible to residents in every US state, with regulatory licenses in the US, Luxembourg, and the UK. In our view it is a good place for a first crypto purchase, with a simple app and a regulated operator. Active traders can pay less: we would compare Kraken Pro first, whose entry-level taker fee is 0.80%, against 0.90% on Coinbase Advanced in the US.
Derivatives Platform vs Beginner Gateway
Bybit and Coinbase target distinct audiences. In our view, Coinbase is the preferable option for those new to trading and individuals in the US, where Bybit does not accept clients. We rate it significantly higher for operation, beginner friendliness, and security features. Bybit is more suitable for experienced traders outside the US who are interested in derivatives, options, and copy trading. Within the UK, its spot fee of 0.10% is more competitive than the 0.25% maker and 0.50% taker fees that Coinbase Advanced imposes. Overall, we rate Bybit slightly higher, given its superior fee structure and better customer support.
Trading fees
What you pay depends on where you live. In the US, only Coinbase is an option, and Coinbase Advanced charges 0.50% for maker orders and 0.90% for taker orders at the entry tier. In the UK, Bybit charges 0.10% on both sides of a spot trade, while Coinbase charges 0.25% maker and 0.50% taker, the same entry rates it uses in the EU. In the EEA, Bybit EU applies one spot rate of 0.25%. Coinbase's tier for Brazil, India and other international markets, at 0.09% maker and 0.10% taker, is about level with Bybit's global rate of 0.10%.
Simple buys cost more at both. Coinbase builds a spread into the price of a simple buy or sell and adds its Coinbase fee, which is capped at $10 for orders under $200 and at 6% of the value for larger ones. Coinbase One subscribers trade simple orders without that fee up to a monthly limit. At Bybit, One-Click Buy runs through outside providers that set the fee by currency and payment method, and the P2P market charges buyers and sellers no Bybit fee. On perpetual futures, Bybit charges 0.02% maker and 0.055% taker at its entry level. We rate Bybit much higher for fees and costs.
Coins and products
The two list a similar number of coins, with Coinbase slightly ahead. Bybit is built around derivatives: USDT and USDC perpetuals, dated futures, inverse contracts and options, with up to 150x leverage on its BTCUSDT perpetual according to its API. It adds copy trading, trading bots, CFDs through MetaTrader 5 and 11 tokenized US stocks on its spot market.
Coinbase offers futures to US customers through Coinbase Derivatives, a designated contract market registered with the CFTC, with up to 10x leverage on bitcoin and ether. It also runs prediction markets through Kalshi, sells US stocks without commission, and issues a Visa debit card to US residents outside Hawaii. We rate the two the same for range of functions.
Staking and earning
Coinbase collects 35% of staking rewards as its standard commission, with reduced rates for Coinbase One members, and it does not accept new staking funds from clients in four states: California, Maryland, New Jersey, and Wisconsin. Bybit Earn includes Easy Earn with flexible and fixed terms, Dual Asset, On-Chain Earn, and Stablecoin Earn, and features a Recurring Buy option for automating routine purchases.
Where you can use them
Coinbase holds money transmitter licenses in 47 US jurisdictions and a New York virtual currency license from the NYDFS. Internationally, it serves Canada as a restricted dealer, the UK through CB Payments, registered with the FCA, and much of Europe via Coinbase Luxembourg, authorized by the CSSF.
Bybit's terms leave out the United States, Canada, Australia, Singapore, Hong Kong, France and the Chinese Mainland, and Bybit judges this by your nationality, not your address. In the EEA except Malta, it operates through Bybit EU GmbH, authorized under MiCA by Austria's FMA, and in December 2025 it returned to the UK with spot trading and P2P.
Security and track record
We rate Coinbase much higher for security and trust. Its parent, Coinbase Global, trades on Nasdaq, and Deloitte & Touche audits Coinbase Custody Trust Company for SOC 1 Type II and SOC 2 Type II. Coinbase's US user agreement states that digital assets are not protected by the FDIC or SIPC. Coinbase disclosed in May 2025 that support agents outside the US, who had been bribed, copied customer data, and the SEC's civil enforcement case against Coinbase was dismissed in February 2025.
In February 2025, Bybit suffered a loss of approximately $1.5 billion in virtual assets. The FBI attributed this theft to North Korea, and Bybit's subsequent proof-of-reserves snapshot reflected ETH reserves at 102% of user ETH. Bybit provides proof-of-reserves reports using a Merkle tree, completed a SOC 2 Type II audit by Deloitte, and holds ISO/IEC 27001 certification. France's AMF has blacklisted Bybit since 2022, and India's FIU imposed a fine on Bybit Fintech in January 2025. Bybit's terms specify that no governmental authority insures the digital assets held on your behalf.
Ease of use and support
We rate Coinbase much higher for operation and for beginner friendliness. In our view, its app makes a first purchase easy, and Coinbase Advanced, which replaced Coinbase Pro, adds charts and advanced order types once you want them. Bybit requires identity verification for every product, which it says takes about 15 minutes and sometimes up to 48 hours.
For support, we rate Bybit higher. Coinbase sends phone and message contacts to a virtual assistant first, with a live agent depending on the hours. Bybit takes support cases online and says it replies within one working day on verification problems.
Our verdict by criterion
In our view, Bybit suits experienced traders outside the US, and Coinbase suits beginners and every US reader. We rate Bybit slightly higher overall because of its fees and support, while Coinbase scores much better for operation, beginners and security.
- Fees and costs: we rate Bybit much higher
- Range of functions: we rate them the same
- Operation: we rate Coinbase much higher
- Beginner friendliness: we rate Coinbase much higher
- Security and trust: we rate Coinbase much higher
- Support: we rate Bybit higher
Which one fits you
- Residents of the US: Coinbase.
- First-time buyers globally: Coinbase, due to its simpler app.
- Traders focusing on derivatives and options outside the US: Bybit.
- Spot traders in the UK seeking lower fees: Bybit, at 0.10% compared to 0.25% maker and 0.50% taker at Coinbase.
- Readers in Canada: Coinbase, since Bybit does not serve Canada.
Read our Coinbase review and our Bybit review for the details. You can also compare Bybit vs Kraken and Coinbase vs Kraken, or browse our list of exchanges for beginners.
Questions about Bybit and Coinbase
Is Bybit better than Coinbase?
We rate Bybit slightly higher overall, for its fees and support. In our view, Coinbase is still the better choice for beginners and the only option of the two for US residents.
Can Americans use Bybit?
No, Bybit's terms exclude the United States, and its policies are based on nationality, thus excluding US citizens regardless of their residence. Coinbase is accessible in every US state.
Is Coinbase safer than Bybit?
We rate Coinbase much higher for security and trust. Neither covers your crypto through a government insurance scheme, and Bybit lost about $1.5 billion in a theft in February 2025.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
